OTE announces 260 mln€ in returns for shareholders

Friday, 09 November 2018 12:38

By T. Igoumenidi


OTE telecoms group announced dividends and an own share buy-back scheme worth 260 million euros this week, during a briefing to present nine-month results.

Greece's biggest telecoms operator posted a 4.7-percent increase in third-quarter core profit thanks to a growing mobile and fixed-telephony share in its domestic market.

The former state telephony monopoly, managed by  Deutsche Telekom through its 45-percent ownership, reported earnings EBITDA of 365.2 million, compared to 348.7 million euros in the same quarter of 2017. The Greek state continues to own 5 percent of OTE.

In a press release, OTE noted that "...within the frame of the Own Share  Buy Back Program...(It) purchased 27,582 own shares, for an average price of €10.2108 per share, of total value €281,635.66, in accordance with article 16 of Codified Law 2190/1920 and the resolutions of the Company’s competent bodies. Following the aforementioned purchase, the Company holds 10,096,771 own shares, 2.060% of the total shares of the Company."

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